Adage Capital Partners GP L.L.C. Boosts Stake in Edwards Lifesciences Co. (NYSE:EW)

Adage Capital Partners GP L.L.C. raised its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 46.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,223,893 shares of the medical research company’s stock after acquiring an additional 389,141 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Edwards Lifesciences were worth $90,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new position in Edwards Lifesciences in the fourth quarter worth $26,000. Millstone Evans Group LLC purchased a new position in Edwards Lifesciences during the 4th quarter worth $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Edwards Lifesciences during the 4th quarter valued at about $30,000. Roble Belko & Company Inc purchased a new stake in Edwards Lifesciences in the fourth quarter valued at about $46,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Edwards Lifesciences in the fourth quarter worth about $54,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 11,250 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $75.76, for a total transaction of $852,300.00. Following the sale, the chief financial officer now directly owns 30,561 shares in the company, valued at $2,315,301.36. This represents a 26.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven R. Loranger sold 5,739 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $76.42, for a total transaction of $438,574.38. Following the completion of the transaction, the director now owns 60,372 shares of the company’s stock, valued at approximately $4,613,628.24. This trade represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,853 shares of company stock valued at $5,163,062. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EW shares. Canaccord Genuity Group lifted their target price on shares of Edwards Lifesciences from $68.00 to $71.00 and gave the stock a “hold” rating in a research note on Thursday, February 13th. Evercore ISI dropped their price objective on shares of Edwards Lifesciences from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, February 12th. Stifel Nicolaus upgraded Edwards Lifesciences from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a research note on Thursday, January 30th. Morgan Stanley increased their price objective on Edwards Lifesciences from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Truist Financial reduced their price target on shares of Edwards Lifesciences from $78.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.55.

Edwards Lifesciences Price Performance

EW stock opened at $70.33 on Thursday. Edwards Lifesciences Co. has a 1 year low of $58.93 and a 1 year high of $95.25. The firm has a market capitalization of $41.35 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 4.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The business has a 50 day simple moving average of $70.95 and a 200-day simple moving average of $70.94.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. Edwards Lifesciences had a return on equity of 19.40% and a net margin of 72.93%. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities research analysts anticipate that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.